Regret Theory - Explained
What is Regret Theory?
Written by J. Mance Gordon
Updated at April 22nd, 2024
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
What is Regret Theory?
Regret theory or anticipated regret states that when making a decision individuals anticipate regret from a wrong choice and consider this regret during any form of decision making to reduce or eliminate the possibility of the its occurrence.
The fear of regret can play a crucial role in discouraging a person from taking part in an action or encouraging a person to take part in an action.